Bill Ackman

Pershing Square Inc.

as of Sep 30, 2023 · filed Nov 14, 2023 · 45-day reporting lag · historical report

Source filings

13F-HR 0001172661-23-004016

QuarterCompare any two quarters

Portfolio value$10.5B -3.0% vs. previous quarter

Positions71 new · 1 sold

Top 577.4%largest GOOG at 17.2%

Largest moveHHHNew · 11.9% weight

Concentration

How much of the portfolio the biggest positions add up to. Hover the curve, or focus it and use the arrow keys, to inspect each rank.

Longest held

One block per imported quarter, oldest at the left. A full row means held in all of them, not that the position began there.

15%held throughout

QSR26

HLT24

CMG23

LOW16

GOOG13

Top 3 moves

HHH+11.9%

GOOG+4.3%

CMG−2.2%

1 new position and 1 sold; the largest portfolio-weight shift was HHH entering at 11.9%.

Holdings

Reported price is value divided by shares, the manager’s quarter-end mark rather than a traded price.

Sorted by portfolio weight, high to low

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Reported holdings for Q3 2023

GOOGALPHABET INCCommunication ServicesGOOG · GOOGLSupply chain (as of Q2 2026)	17.2%+4.3%	Increased	GOOG9,377,195GOOGL4,354,824	GOOG$131.85GOOGL$130.86	$1.81B
CMGCHIPOTLE MEXICAN GRILL INCConsumer Discretionary	16.6%-2.2%	Unchanged	953,608	$1831.83	$1.75B
QSRRESTAURANT BRANDS INTERNConsumer Discretionary	14.8%-1.9%	Unchanged	23,348,135	$66.62	$1.56B
HLTHILTON WORLDWIDE HOLDINGS INConsumer Discretionary	14.7%+2.2%	Increased10.4%	10,305,500	$150.18	$1.55B
LOWLOWE'S COS INCConsumer Discretionary	14.0%-1.6%	Reduced5.4%	7,066,623	$207.84	$1.47B
HHHNEWHOWARD HUGHES HOLDINGS INCReal Estate	11.9%+11.9%	New	16,806,908	$74.13	$1.25B
CPCANADIAN PACIFIC KANSAS CITYIndustrials	10.7%-0.6%	Unchanged	15,095,528	$74.41	$1.12B

Bill Ackman

Pershing Square Inc.

as of Sep 30, 2023 · filed Nov 14, 2023 · 45-day reporting lag · historical report

GOOGALPHABET INCCommunication ServicesGOOG · GOOGLSupply chain (as of Q2 2026)

17.2%+4.3%

Increased

GOOG9,377,195GOOGL4,354,824

GOOG$131.85GOOGL$130.86

$1.81B

CMGCHIPOTLE MEXICAN GRILL INCConsumer Discretionary

16.6%-2.2%

Unchanged

953,608

$1831.83

$1.75B

QSRRESTAURANT BRANDS INTERNConsumer Discretionary

14.8%-1.9%

Unchanged

23,348,135

$66.62

$1.56B

HLTHILTON WORLDWIDE HOLDINGS INConsumer Discretionary

14.7%+2.2%

Increased10.4%

10,305,500

$150.18

$1.55B

LOWLOWE'S COS INCConsumer Discretionary

14.0%-1.6%

Reduced5.4%

7,066,623

$207.84

$1.47B

HHHNEWHOWARD HUGHES HOLDINGS INCReal Estate

11.9%+11.9%

New

16,806,908

$74.13

$1.25B

CPCANADIAN PACIFIC KANSAS CITYIndustrials

10.7%-0.6%

Unchanged

15,095,528

$74.41

$1.12B